Accounting for Leases
We have bundled the advisory services for lessors and lessees in our competency area of lease accounting. We would be glad to provide you with support on all subjects related to lease installment payments, lease agreements, leased properties, and the accounting of your lease agreements.
In the course of the changes to lease accounting due to IFRS 16 (replacement of IAS 17), we also offer you leasing software, the FAS LeaseBOX, for the classification, booking, and accounting of lease agreements, and will also advise you regarding all subjects related to the new leasing standard IFRS 16.
The changes in lease accounting under IFRS 16 have now been published and will enter into force on January 1, 2019. They will have far-reaching implications for lessees. FAS AG has developed a project method for these challenges which allows for efficient implementation of the new leasing standard. We recommend beginning with the first phase, the impact analysis, right now!
In order to efficiently design the extensive and time-intensive processing of lease agreements as a result of new lease accounting requirements, FAS AG has developed software for the fully automated classification, posting, and accounting of lease agreements (incl. SAP interface) – FAS LeaseBOX.
In our webinar on FAS LeaseBOX, we present to you our software for the classification, posting, and accounting of lease agreements in accordance with IFRS/US GAAP. We will address both the new leasing standard IFRS 16 and your questions related to the requirements for the system-side representation of your lease agreements.
Other leasing-relevant services provided by FAS AG are conversion of lease accounting to IFRS or US GAAP and automation and optimization of lease accounting, development of leasing strategies, and support for compliance with the German Banking Act [KWG] "Light" Guidelines.